Turkey-based re-rollers have been enjoying improving demand for their products, specifically in the cold rolled coil (CRC) segment. A lot of customers have been seeking to restock lately, fearing sharp price increases since hot rolled feedstock offers are again back to over $800/mt ex-works. This has resulted in the CRC allocation being limited in the market, which in turn has pushed prices up further.
Over the past week, Turkey’s local CRC prices have increased by another $20-30/mt to $1,020-1,050/mt ex-works for the base specification. Sources report minor discounts are still possible. However, not many suppliers are willing to cut prices during negotiations, taking into account that they are mostly offering for June production. “Literally it is almost impossible to find May now. All mills are pretty much booked and can sit back and relax for now,” a source said.
